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Innovation

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Research and Development

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Research and Development Facilities

Oxfordshire is home to world-class clusters of excellence in Advanced Engineering, Cryogenics, Life Sciences, Space and Satellite Applications.

These hubs of innovation are leading the way in major collaborative research and development (R&D) projects and have created a unique environment where state-of-the-art publicly funded scientific facilities operate alongside industrial R&D.

Funding for R&D

KTNconnects people to speed up innovation, solve problems and find markets for new ideas.

SBRIbrings together government challenges and ideas from business to create innovative solutions.

Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly €80 billion of funding available over 7 years (2014 to 2020).

Corporation Tax: R&D Relief

R&D Relief is a Corporation Tax relief that may reduce your company or organisation’s tax bill.

Alternatively, if your company or organisation is small or medium-sized, you may be able to choose to receive a tax credit instead, by way of a cash sum paid by HM Revenue and Customs (HMRC)

Your company or organisation can only claim R&D Relief if it’s liable for Corporation Tax. For more information and to find out if your business is eligible, visit the Gov.uk webpage on R&D Relief.

Advance Assurance for R&D

From November 2015 HM Revenue and Customs (HMRC) are introducing Advance Assurance for companies that claim Research and Development (R&D) tax relief.

If your company carries out R&D for itself or other companies, it could qualify for Advance Assurance. This means that for the first 3 accounting periods of claiming for R&D tax relief, HMRC will allow the claim without further enquiries.

Applying for Advance Assurance is voluntary and you can do this at any time before the first claim for R&D tax relief.

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